Buy on a level breakthrough of 0.7185 with 0.7241 target. Stop loss = 0.7135.
Reason for the trading strategy
In January, the unemployment rate in Australia rose from 5.8% to 6%, while employment decreased by 7.9 thousand. The negative labor market statistics puts pressure on the Aussie. Meanwhile, the inflation statistics for China supports the commodities. In January, consumer price inflation in China accelerated to 1.8%, while the producer price index increased from - 5.9% to - 5.3% per annum.